HomeMy WebLinkAboutR86-130091
RESOLUTION NO. R86-130
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF PLAINVIEW,
TEXAS, APPROVING THE WITHDRAWAL OF CERTAIN SECURITIES HELD IN
JOINT SAFEKEEPING BY THE FEDERAL RESERVE BANK OF DALLAS.
WHEREAS, heretofore, under date of May 15, 1985, the Federal
Reserve Bank of Dallas, issued to City of Plainview, Depositor, and
the First National Bank, formally City National Bank of Plainview,
Depository, its Joint Safekeeping Receipt or Advice of Deposit or
receipts covering certain securities; and
WHEREAS, both the Depositor and Depository now desire the
Federal Reserve Bank of Dallas to permit a substitution of certain
securities, or a withdrawal of securities, which it now holds, as
hereinafter more fully set forth; and
WHEREAS, the securities, if any, hereinafter mentioned, which
the above named parties desire to substitute in lieu of those
heretofore placed in safekeeping with the Federal Reserve Bank of
Dallas, meet with the requirements of law and have been and are
hereby approved; and
WHEREAS, the securities, if any, hereinafter mentioned, which
the above parties wish to withdraw, are entitled under the law to be
withdrawn.
NOW THEREFORE BE IT RESOLVED by the Mayor and the City
Council of Plainview, Texas that the Federal Reserve Bank of Dallas
be and it is hereby requested and authorized to surrender the
following securities heretofore placed with it for safekeeping by the
above named parties; to wit:
RECEIPT NO.
DESCRIPTION
PAR VALUE
U.S. Treasury Note
due 11/30/86 10.375%
$250,000
BE IT FURTHER RESOLVED that the Federal Reserve Bank of Dallas
be and it is hereby authorized to deliver the securities described
herein to the substituted for or withdrawn to the First National Bank
of Plainview or its order.
ATTEST:
PASSED AND APPROVED this
the 24th day of JuDD, 198_6.
E.V. RIDLEHUBER, Mayor
~~ ~RN, Interim City Clerk